Solidate Step-by-Step

  1. Analysis – we fetch and categorize your account transactions for the past 12 months. Based on this we prepare a tailored suggestion. If we recommend Solidate-financing, you can continue into the credit application

  2. Process – We check your application and contact your lenders.

  3. Checking balances – We get exact balances from all lenders in order to get an accurate picture of your debt.

  4. Additional analysis of affordability and debts – We check your income, debt information and affordability. We may request more information.

  5. Credit decision and contract – You will sign an agreement and forward any attachments we may need for buying your debt from lenders.

  6. Offers to lenders – We send our offers to purchase your debt from the lenders. If 70% of these offers are accepted, we can finance your debt. (NOTE: If you cannot fully pay back any additional debts in 4 months, we cannot finance your debt.)

  7. We pay your debts and you start servicing your Solidate-loan –  Depending on affordability, your payment plan will be 3 to 6 years long.

  8. Your debt is paid –  When you repay your loan, you will collect a refund, which will be available to you when your loan is paid in full.

 

Who is it for?

Solidate is meant for those who are no longer able to handle their own debt, and who are not able to get refinancing from their regular bank.  The debt should mainly consist of non-secured consumer loans (usual maximum is around 50 000 eur).  We cannot rearrange tax debt, rent debt, secured (collateralized) debt, private debt, corporate debt or legal debt (penalties, fines, compensation for damage) or hospital, daycare etc. fees in delinquent state.  You also must have a regular income, enough to comfortably cover the Solidate debt servicing in the agreed time-frame.

Solidate does not allow you to set your monthly payment, you agree to pay off the debt in the agreed time-frame. Affordability is defined as the sum left over after mandatory expenditures from your monthly net income.  Regular investments, expensive hobbies or trips abroad are not mandatory expenses. Solidate expects you to commit to a new and financially prudent lifestyle where you make an effort to improve your own situation.

About us

Solidate is a Finnish company, aiming to help people with overwhelming financial burdens towards a well balanced personal economy.  We operate openly and responsibly cooperating with public, private and non-governmental interests.  We believe that an ethical, sustainable and humane business is most profitable for all parties involved.